Beck says it is "absolutely wrong" that AIG bonuses are "wildly unpopular"
March 19, 2009 12:33 pm ET
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In this case, Beck is right. The AIG bonuses are part of a contractual agreement that goes back more than a year. Of course, they are insane. However, Congress wants to alter the tax code and ignore contract law to get revenge. That is worse than the bonuses. The ultimate law in America is contracts. It always has been. Now the people who caused this financial crisis are trying to divert attention away from themselves with their overblown rhetoric against AIG. It seems to be a case of "do SOMETHING, even if it's wrong." In this matter, what they are doing is wrong.
The bailouts themselves are the crime, not the bonuses.